Europe

UK - Removing limited price indexation for defined contribution schemes could create a fresh wave of financial scandals, NAPF chairman Terry Faulkner warns.

FRANCE - The massive e16bn French Pensions Reserve Fund (FRR) has awarded a transition manager mandate to Goldman Sachs for a period of three years.

UK - The Occupational Pensions Regulatory Authority has launched its first online video presentation to provide guidance on when to report problems to the regulator.

UK - More than 70% of UK institutional investors are looking to appoint fund of hedge fund managers, according to a new survey.

UK - Trustees should take into account recent changes in the annuity market when providing AVC annuities in-house, Watson Wyatt warned.

UK - Incentives must be offered to safeguard the future of employer-sponsored pension schemes, the Society of Pension Consultants' new president claims.

UK - Gissings is outsourcing its much-criticised back-office administration function to business process provider, Liberata, in a deal worth £100m over 15 years.

UK - Lane Clark & Peacock is welcoming the government's review into the actuarial profession following the collapse of Equitable Life.

UK - Standard Life Investments' assets under management rose by over 11% to £86.6bn over the 12 months period to May 2003.

UK - ISIS Asset Management and the Dutch Eureko-owned F&C have merged to create the fourth largest asset manager in the UK and a top ten manager of European pension fund assets with £120bn of funds under management.